Shares in internet search giant Google topped the $600 (£293.50) mark for the first time as anticipation grew ahead of the release of new financial results.

Trading in the world's largest search engine reached a high of $610.26 on Monday, much higher than the $85 a share price given when the company was initially listed three years ago.

Industry analysts are claiming that Google's third-quarter financial results, which are planned to be released later this month, could be the biggest by a solely internet-based company. The BBC reports the industry is braced for Google to launch its new mobile phone.

Analysts Lehmann Brothers told the news provider: "We expect the device to be a low-priced, simple-form-factor handset with a Google-designed operating system specifically designed for internet applications."

Earlier this week, Google announced it will partner IBM in a university-based research initiative in the US.

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